Senate Democrats Demand Hearing on Trump Family Crypto Project's Ties to Abu Dhabi Royal Family

Odaily, U.S. Senate Democrats have sent a letter to Republican leadership demanding an immediate hearing regarding the potential relationship between the Trump family's crypto project, World Liberty Financial, and the Abu Dhabi royal family.

This follows a report by the Wall Street Journal that an investment entity backed by Sheikh Tahnoon bin Zayed Al Nahyan, a member of the Abu Dhabi royal family, secretly acquired a 49% stake in World Liberty Financial. The project is a DeFi and stablecoin venture, with Donald Trump and his three sons listed as advisors.

According to the report, the deal was signed by Eric Trump four days before Trump's presidential inauguration in January 2025. The transaction was valued at $500 million, half of which was paid upfront. Approximately $187 million flowed to entities controlled by the Trump family, while at least $31 million went to entities linked to the family of World Liberty co-founder Steve Witkoff. Witkoff was later appointed as the U.S. Special Envoy for the Middle East, and his son, Zach Witkoff, currently serves as CEO of World Liberty.

The Trump side has stated that Trump was unaware of the $500 million investment and was not directly involved in the daily operations of World Liberty Financial. Democrats argue that the matter involves potential conflicts of interest between the president's family business interests, foreign capital, and government diplomatic roles, and have therefore called on the Republican-led Senate to launch an investigation as soon as possible.